Harrah's Sees New Home for Real Estate

Casino Company Aims
To Split Off Holdings;
Loveman to Stay Chief

By

Peter Sanders

Updated Feb. 12, 2007 12:01 a.m. ET

In one of the first clues to its long-term plans, casino giant Harrah's Entertainment Inc. said in a regulatory filing that it plans to split off its vast real-estate holdings into one or more subsidiaries by the time its acquisition by two private-equity firms is completed.

The Las Vegas-based casino company also disclosed the expected news that Gary Loveman, current chairman and chief executive, would continue in the role of chief executive once the company goes private. Upon the close of the deal, Mr. Loveman also...